Chapter 13 is designed for people that have more property or income. It also has tools to restructure debt that are unavailable in chapter 7 cases. If you have negative equity (property is worth less than what you owe) in your mortgage or car or are facing foreclosure and you want to keep your home, chapter 13 bankruptcy may help you restructure the debt! With chapter 13 bankruptcy you can consolidate your debts, reduce your monthly payments to your creditors and discharge remaining debts after completion of a chapter 13 repayment plan.
- Bring a past due secured debt (mortgage or vehicle) current over time
- Reduce the amount you have to pay to keep your vehicle;
- Reduce your interest rate on a secured loan like a vehicle; and
- Eliminate a second mortgage..
Schedule a Free Layton Chapter 13 Consultation Now!